Former Lyft CFO Joins NFT Marketplace OpenSea, Plans IPO Instead Of Token


    Brian Roberts, the former CFO of rideshare company Lyft Inc (NASDAQ:LYFT), has joined the world’s largest decentralized marketplace OpenSea.

    What Happened: According to a report from Bloomberg, the new OpenSea CFO is already planning to take the company public by way of an initial public offering.

    “I’ve seen a lot of P&Ls (profit and loss statements) but I’ve never seen a P&L like this,” commented Roberts.

    “When you have a company growing as fast as this one, you’d be foolish not to think about it going public. It would be well-received in the public market given its growth.”  

    OpenSea is built on the Ethereum (CRYPTO: ETH) blockchain and is the leading non-fungible token (NFT) marketplace today. Recent reports have valued the company at $10 billion, despite having raised $100 million in its last investment round, bringing the company’s valuation to $1.5 billion only four months ago.

    According to Roberts, OpenSea is already profitable and doesn’t need to raise additional capital.

    In April, the largest U.S.-based crypto exchange Coinbase Global Inc (NASDAQ:COIN) went public in what industry watchers described as a “watershed moment” for the crypto industry.

    With OpenSea’s trading volume already surpassing the $10 billion mark and the massive global interest in NFTs, an OpenSea IPO is likely to have a similar impact on market participants.

    However, some members of the crypto community took issue with the fact that OpenSea had planned an IPO instead of issuing its own crypto token.

    Photo: Courtesy of Tomasz Frankowski on Unsplash





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